Master Project Management with Earned Value Training
Embark on a journey to elevate your project management skills with our comprehensive Earned Value Training. This specialized training is meticulously designed to empower organizations and professionals to navigate through the intricate path of project management with precision and expertise.
Unlock the Power of Key Project Metrics
Delve into the core of project management by mastering the pivotal metrics such as Earned Value (EV), Planned Value (PV), and Actual Cost (AC). Our Earned Value Training ensures you gain in-depth knowledge and practical skills to utilize these metrics effectively, enabling you to keep your projects on track, within budget, and adhering to schedules.
Ensure Successful Project Execution with Informed Decisions
Learn how to gauge the health of your projects by deriving insightful data from key calculations and metrics. Our training equips you with the capability to make data-driven, informed decisions that pave the way for successful project execution, even amidst challenges and changing project landscapes.
Equip Your Team with Essential Project Management Skills
With a focus on both theoretical knowledge and practical application, our Earned Value Training is tailored to equip your project teams with the essential skills and knowledge to monitor, control, and steer projects effectively towards their goals while ensuring optimal resource utilization.
Deliver Value While Staying on Budget and Schedule
Immerse yourself in a learning experience that ensures you not only deliver projects that provide value but also ensures that they are executed within the stipulated budget and time frames. Navigate through the complexities of project management and ensure every project you handle is a testament to efficiency and effectiveness.
Enroll Now for a Future in Successful Project Management
Secure your spot in our Earned Value Training and embark on a path to becoming a proficient project manager. Enhance your career, boost your team’s productivity, and ensure every project you manage is executed successfully, adhering to all its planned parameters. Enroll now and steer your projects towards assured success!
As part of Department of Energy’s (DOE) Office of Project Management’s (OAPM) continuing efforts to further enhance both communication and instruction among DOE and its Earned Value (EVM) Management contractors and EVMS project managers regarding EVMS requirements, OAPM contracted with Humphreys & Associates (H&A) to develop Earned Value Management Systems (EVMS) training videos. These videos, referred to as Snippets, are available as DOE EVMS training resources within the website of the Energy Facility Contractors Group (EFCOG), in a section dedicated to EVMS Training Snippets.
More about OAPM’s mission, from DOE:
“The Office of Acquisition and Project Management (OAPM) is responsible for all contracting, financial assistance and related activities to fulfill the Department’s multitude of missions through its business relationships. As the business organization of the Department, OAPM develops and supports the policies, procedures and procurement operational elements.”
Additionally, the DOE has provided Project Management Policy and Guidance, Orders and Guides, Standard Operating Procedures (SOP) and Handbooks, Secretarial Memoranda regarding Project Management, Capital Asset Budget Guidance, & Capital Asset Plans within Energy.Gov. Additional information here.
An Earned Value Management System is a common contractual requirement on US federal government agency projects and on some foreign government agency projects. Earned Value Management is an effective tool to provide more visibility into project performance for government customers and for internal management.
As with any new concept or tool, success is dependent on how the system is implemented. Upfront planning can mean the difference between success and failure. Based on more than three decades of experience helping hundreds of companies implement an Earned Value Management System, Humphreys & Associates is well versed in what it requires to create a compliant, effective Earned Value Management System (EVMS).
The seven steps below can help to expedite and manage the implementation of a compliant EVM System. Successful implementation can greatly enhance productivity and the bottom line.
Earned Value Management System Success – 7 Steps
Step 1 – Management Team Commitment
Commitment and support from the management team is essential to the success of the EVMS implementation. Without it, the process will fail. Establishing an implementation team responsible for developing the strategic plan and schedule is a critical initial step. Read more…
Step 2 – Pre-Implementation Assessment & Gap Analysis
Before implementing an EVMS, it important to have a clear understanding of the state of the current project control system. This is essential for determining the full scope of the implementation effort. Comparing the current processes and procedures to the 32 guidelines in the EIA-748 Standard for Earned Value Management Systems is part of the process.
Internal EVM experts or an independent third party commonly conduct this assessment, sometimes referred to as a requirements analysis or gap analysis.
The intent is to produce fact-based information useful for creating a realistic implementation plan. What are the processes, tools, and training that need to be enhanced or implemented? Based on this knowledge, an implementation plan and schedule can be produced that defines the specific tasks and milestones to accomplish the end objectives. Read more….
Step 3 – System Structure and Integration
At the beginning of the system enhancement or design stage, it is useful to focus on each of the subsystems that support the nine EVMS process areas and how they integrate with each other. When the customer’s reviewing agency reviews the company’s EVMS, it will look at each of the following process areas:
Work Organization
Planning and Scheduling
Work/Budget Authorization
Accounting
Indirect Management
Management Reporting and Analysis
Revision sand Data Maintenance
Material Management
Subcontract Management
The EIA-748 32 guidelines are the foundation for determining if an EVMS meets the requirements for a compliant system. Developing flow diagrams and storyboards are useful tools at the beginning of the design phase to note what needs to be added or enhanced to create a fully integrated EVMS as well as to satisfy the EIA-748 guidelines. Read more…
Step 4 – The System Description Document
The primary document for describing the system and how it satisfies the EVMS guidelines is the EVM System Description. Internal formal procedures support this document. The system description and related procedures are meant to be the all-inclusive explanation of the EVMS characteristics and how the system is used to manage a project from inception to completion.
The EVMS storyboard and system description are complementary work efforts. An excellent starting point for the system description is to develop an outline that describes the subsystems for each of the nine process areas. Read more…
Step 5 – Training
Training is an important part of the implementation process. This includes upper level management, project managers, functional managers, control account managers (CAMs), and analysts. The training should reflect the EVM System Description, as the government reviewing agency’s team will assess whether or not a project is following the company’s EVM System Description. The development and execution of the training plan as part of the overall implementation plan helps to ensure the various end-users complete the training they need. Read more…
Step 6 – System Implementation
System implementation on a pilot project requires dedicated teamwork and is the most time consuming of the seven steps. An easier approach is to implement the EVMS on a new project so that all project artifacts reflect the system description at the onset.
Projects that run effectively and efficiently often translate into higher profit margins and result in more company business. Read more….
Step 7 – Operation and Use Verification
Once in place, periodic internal reviews, sometimes called self-surveillance, can be done to ensure that the EVMS implementations on the various projects continue to comply with the company’s EVM System Description. This helps to prevent the system from atrophying over time. It also provides an opportunity to address additional training needs, resolve common implementation issues, and enhance the system.
Independent third parties can also assist with the self-surveillance process. This provides an added benefit by using experienced outside consultants who regularly perform mock compliance or certification and other types of reviews. The outside consultant team can also update a company on the latest issues the government agency review teams are focusing on, provide a fresh look at how an EVMS is used on a project, or bring new ideas to the table that can improve the company’s EVM System.
Similar to the implementation and use of the EVMS, it is important to establish a repeatable process for self-surveillance, capture the results, identify the problem areas, identify actions to address the root cause of the problems, and track them to closure. Read more….
